CGT small business concessions and contributions to super
Partners in a partnership
If the asset being sold is an asset of a partnership that is a CGT small business entity, the basic conditions require the CGT small business entity to be a partner in that partnership.
2018 Federal Budget Proposal
Effective 8 May 2018, the small business CGT concessions will no longer be available to partners that alienate their income by creating, assigning or otherwise dealing in rights to the future income of a partnership. This is a tax integrity measure to stop certain taxpayers, including large partnerships, from accessing the small business CGT concessions in relation to their assignment of a right to the future income of a partnership to an entity, without giving that entity any role in the partnership.
At the time of writing this proposal is not law.
Last modified: Thursday, November 15, 2018